Technavio says global wireless chargers market set to grow at a CAGR of 33% by 2020

Renewable energy


Wireless chargers: Key market research findings

  • Increase in adoption of wireless EV charging
  • Need for common charging platform

Technavio has released a new market research report on the global wireless chargers market, which is expected to generate revenues of $9 billion by 2020.   Wireless chargers are a convenient and a safe means to power mobile computing devices or gadgets. This factor necessitates the adoption of wireless chargers in restaurants, offices, and numerous public places to enable users to charge their devices frequently. The Americas is the major revenue-contributing region in the wireless charger market, accounting for 41% of the total market revenue. The growing awareness of wireless power technology among consumers and increased adoption of wireless charging for industrial applications and in the healthcare sector propels the market in this region.

The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.

“Wireless technology providers and EV/plug-in hybrid electric vehicle (PHEV) manufacturers are focusing on providing wireless charging systems for EVs/PHEVs because of the convenience they offer to vehicle owners. The growing popularity of wireless charging banks is expected in the near future. This will enable wireless charging of multiple vehicles in the parking. In addition, this system will enable multiple vehicles to be charged at the same charging bank,” says Sunil Singh, Lead Analyst, Hardware & Semiconductor, Technavio Research

Various problems associated with conventional battery chargers have resulted in the replacement of conventional chargers with wireless battery chargers. These devices provide a common platform that enables the seamless charging of a wide variety of mobile devices, eliminating the need for dedicated power adapters. Wireless charger manufacturers are looking at standardizing the specification of wireless charging transmitters and receivers that are expected to revolutionize the existing market.  

The leading vendors in the global wireless chargers market are Duracell Powermat (a subsidiary of P&G), Fulton Innovation, WiTricity, and Qualcomm. This market is in its developmental stage, where vendors are trying to increase their market share. The market is highly competitive with all players competing to gain maximum market share, and many new start-ups like uBeam are planning to enter the market. Competition in the market is expected to intensify during the forecast period, because of the high growth potential of the market and increased number of innovations.

A more detailed analysis is available in the Technavio report, Global Wireless Chargers Market 2016-2020.

We can customize reports by other regions and specific segments upon request.

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